Xi S&D Inc. announced a private placement of 7,247,425 common shares at an issue price of KRW 6,899 per common share for gross proceeds of KRW 49,999,985,075 January 21, 2019. The transaction will include participation from returning investors GS Engineering & Construction Corporation (KOSE:A006360) for 6,204,458 shares for gross proceeds of KRW 42,804,555,742 and GS Neotek Co., Ltd. for 977,782 shares for gross proceeds of KRW 6,745,718,018. The shares to be issued will have a face value of KRW 1,000, will be issued at a premium, and will be allocated to the shareholders.

The company will issue 0.6518548 new shares per one existing share. Post the transaction, the total number issued shares will increase from 11,118,160 shares to 18,365,585 shares. The subscription date is February 22, 2019.

The securities will be issued through existing shareholder preferential allotment method. The transaction is expected to close on February 25, 2019. The transaction has been approved by the board of directors of GS Engineering & Construction Corporation (KOSE:A006360).